Crypto Exchange OKX Eyeing Bahamas Prospects – Eye Witness News

NASSAU, BAHAMAS — One of the world’s first and largest crypto exchanges is “exploring opportunities” in the Bahamas, local executives confirmed yesterday, noting that the company is monitoring developments in the country regarding the digital asset space.

Dr. Jillian P Bethel, CEO of OKX Bahamas, said at a press conference on the sidelines of the Crypto Bahamas conference yesterday that the robust regulatory framework established with the The Digital Assets and Registered Exchanges (DARE) Act was attractive to entities such as OKX looking for a robust regulatory environment in which to operate.

OKX, platinum sponsor of the conference held in Baha Mar, is one of the largest crypto spot and derivatives trading exchanges.

The company, a Seychelles-based cryptocurrency exchange that provides a platform for trading various instruments, has hired several Bahamians in key management positions as it explores opportunities in the Bahamas that have already attracted business. like FTX Digital Markets.

“A solid regulatory framework has been established with the DARE Act,” Bethel said.

“Many entities in the crypto space want to participate in a regulated environment. Some of the bigger jurisdictions haven’t made the switch from the Bahamas and that’s something we should definitely be proud of.

She continued, “The DARE Act is really attractive legislation for anyone in the crypto space. When you look at different jurisdictions, you see people trying to fit crypto into squares that it just doesn’t fit and never will. The DARE Act is designed from the ground up for crypto and is designed for a jurisdiction that embraces it broadly.

Bethel explained that a strong regulatory environment is important to protect people who want to participate in the digital asset space and goes against the stigma that has surrounded the industry in recent years.

“The bigger crypto gets and the more people get involved, they will want to be protected. This is why a regulated environment is so important. Companies like OKX want to be regulated because we are good players and good players want to demonstrate that they are good players. The best way to do this is to operate in a regulated environment,” Bethel said.

She said: “OKX will follow the tide. OKX examines what is happening with crypto in the Bahamas. Right now, OKX is in an innovative place. We are a big part of the crypto community.

Company executives said yesterday that plans to expand OKX’s presence in the Bahamas will be announced in the near future. The company is not yet licensed to operate as a stock exchange in the Bahamas.

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Crypto Exchange OKX Eyeing Bahamas Prospects – Eye Witness News

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